22nd Century Group (NASDAQ:XXII) Posts Quarterly Earnings Results, Beats Expectations By $15.73 EPS

22nd Century Group (NASDAQ:XXII) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($16.79) by $15.73, Zacks reports. The company had revenue of $4.01 million during the quarter, compared to analysts’ expectations of $4.20 million. 22nd Century Group had a negative return on equity of 344.13% and a negative net margin of 80.22%.

22nd Century Group Price Performance

NASDAQ XXII opened at $1.55 on Tuesday. The business has a 50 day simple moving average of $1.65 and a 200 day simple moving average of $8.33. 22nd Century Group has a one year low of $1.43 and a one year high of $394.02. The stock has a market capitalization of $5.86 million, a P/E ratio of 0.00 and a beta of 1.95.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 22nd Century Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

22nd Century Group Company Profile

22nd Century Group, Inc, a tobacco products company, engages in the sale and distribution of its own proprietary new reduced nicotine tobacco products. The company offers reduced nicotine content tobacco plants and very low nicotine combustible cigarette products. It also provides contract manufacturing services for conventional combustible tobacco products for third-party brands.